عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Morocco: Government Backs 28 Projects Worth $2.4 Bn

Meeting of Morocco's Investment Commission (Asharq al-Awsat)
Meeting of Morocco's Investment Commission (Asharq al-Awsat)
TT
TT

Morocco: Government Backs 28 Projects Worth $2.4 Bn

Meeting of Morocco's Investment Commission (Asharq al-Awsat)
Meeting of Morocco's Investment Commission (Asharq al-Awsat)

Morocco's Investment Commission, under the chairmanship of Prime Minister Saadeddine Othmani, approved Wednesday 28 new investment projects worth $2.4 billion in various sectors.

The committee studies projects worth over $21 million and approves their governmental support either directly or through the Hassan II Development Fund. It also approves the privatization of public facilities for the private investment projects.

Speaking on the sidelines of the Committee's meeting, Othmani explained that the projects presented were diverse and tackle various vital sectors, such as industry, tourism, leisure, health, transport and infrastructure.

He stressed that the meeting comes within the context of the government's keenness to continue to implement a number of structural reforms aimed at stimulating and supporting investment and enhancing the confidence of private investors in the business climate in Morocco.

The PM indicated that the government is also working on a number of legislative reforms aimed at modernizing the legal aspects of business, improving Morocco's image as a preferred destination for investors.

The government also aims to improve Morocco's ranking in the World Bank's annual "Doing Business" report, which will put Morocco among the top fifty economies in the world.

In this context, the Prime Minister noted that the government prepared a draft law relating to movable collateral, with the aim of facilitating contracting to various funding sources available through the provision of movable collateral.

The draft also wants to improve the competitive conditions of contracting through securing financing for investments and consolidating the principles and rules of transparency in transactions relating to movable collateral.

In addition, Othmani informed the press that two bills on changing and completing the law relating to incorporated companies, as well as the law pertaining to partnership, limited partnership, partnership in commendam, and limited liability companies.

This will help enhance the protection of small investors and establish the principle of transparency and good governance as well as national legal arsenal with international standards.

Most Viewed

 
 
Business

FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
TT
TT

FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.